2025 Tax Strategy

Introduction 

This strategy ¹ applies to Allianz (UK) Ltd, Allianz Holdings plc and all subsidiaries ².

Our ambition is to take a responsible approach to the management of taxes. We aim for being recognised as a compliant, co-operative and reliable taxpayer in the UK.

The Allianz Group acts transparently and responsibly in all tax matters and works closely with experts, auditors and tax authorities, including HMRC, to ensure that we pay our fair share of taxes.

Allianz Tax Strategy and Principles 

The Allianz Group tax strategy includes the following key rules and principles: 

• Full compliance with legal regulations, accurate and timely tax reporting and effective tax risk management.
• Safeguard Group’s reputation, supporting the fairness and integrity of tax systems, as responsible taxpayer whilst supporting sustainable business growth by ensuring efficient tax management carefully balancing stakeholders’ interests.
• Full compliance of tax planning and optimisation activities with tax laws, supported by solid business and economic substance reasons to sustain a credible long-term reputation with tax authorities.
• Ensure transparent and trustworthy communication with all stake-holders with the aim to sustain a creditable long-term relationship.
• Maintain a sound organisational set-up for appropriate tax management.
• Continuous improvement and harmonization of tax processes through simplifications and digital solutions.

Tax Risk Management and Tax Governance 

These principles provide the basis for our Allianz Standard for Tax Management which represents the framework and minimum requirements for all tax relevant processes, methods and structures within Allianz Group. 

All Group entities including those situated in the UK have to adhere to the standard when conducting their tax activities.

With this standard, we are committed to a transparent compliance and disclosure policy, seeking to maintain good relationships with tax authorities, acting as a trusted partner, paying accurate amounts of taxes in a timely manner. 

In order to achieve consistent and full implementation of our tax strategy, operates local tax functions in its major operations including the UK.   

Allianz’s appetite for tax risk is low.  We therefore seek to minimise tax risks by actively and continuously identifying, asessing, monitoring and managing them.

Tax Compliance and Tax Advocacy 

We constantly aim for certainty in our tax positions and obtain internal or exteral advice and validate our position where appropriate. If we seek rulings from tax authorities to confirm an applicable tax treatment, we do so based on full disclosure of all relevant facts and circumstances. 

We seek efficiency in tax matters, including the prevention of double taxation and pay only the tax due following reasonable interpretation and application of tax rules. 

We do not engage in aggressive tax planning or artificial structuring that lacks business purpose or economic substance. Our tax activities are conducted with the clear understanding that all facts and circumstances must be disclosed to tax authorities.

This strategy is aligned with our Code of Conduct and is approved, owned and overseen by the Allianz Holdings plc Board.
 

¹ The purpose of this statement is to satisfy the UK legislative requirements of paragraph 16(2) Schedule 19 Finance Act 2016 in relation to the publication of tax strategy insofar as it affects our UK Group. This covers the period ending December 2024 and we review and refresh our tax strategy annually.
² Defined as entities in which Allianz Holdings plc has a controlling stake (either directly or indirectly).